This article is a result of the usual debates taking place within our research centre, being conducted by the research team that has been dealing for several years with the adoption of the euro by the new member states of the European Union (EU). The recent financial crisis brought in the middle...

The financial crises had a strong impact on the public finance sectors from European countries. Even if in 2007 they started from relative good fiscal positions, the public debt and the budgetary deficits considerably deteriorated and registered historic values in European Union. With all...

As of September 2008, the vulnerabilities accumulated during the previous periods overlapped the devastating effects of the crisis in the new member states (NMS) of the European Union, deteriorating the main macro-indicators and increasing the economic instability, which generated a profound...